Asante Sold to Investor Group

Asante Technologies, Inc. announced that it entered into a definitive agreement with Oblique, Inc., an acquisition company created and led by one of its former Vice Presidents of Sales and Marketing, James L. Volkmar, which will result in a merger between Asante Technologies and Oblique, Inc. Under the terms of the agreement, each stockholder of Asanté Technologies is expected to receive up to approximately $0.50 in cash per share. Shares of Asante Technologies closed today at $0.20 on the Nasdaq Over the Counter Bulletin Board (OTC). Here is the full press release.

Asante manufactures excellent Mac-compatible networking hardware such as its FriendlyNET router series.